The federal bank regulatory agencies today announced
the availability of a web site that provides information on the Federal
Financial Institutions Examination Council's (FFIEC) Call Report Modernization
initiative. The FFIEC Call Report agencies (the Federal Reserve Board,
the Federal Deposit Insurance Corporation and the Office of the Comptroller
of the Currency) are building a central data repository (CDR) to modernize
and streamline how the agencies collect, process, and distribute bank
financial data.

The web site features a timeline, progress reports, frequently asked
questions and answers, and highlights of future process changes. It provides
details about project participants and how financial institutions and
software vendors can participate in the initiative. The site also contains
information outlining the technology supporting the new reporting process.

The FIND (Financial INstitutions Data - Bank Call Reports) web site provides
details on the initiative in the months leading up to the implementation
of the CDR and will continue to provide guidance after completion of the
initiative. Implementation of the CDR is slated for the Fall of 2004,
and banks will first use the CDR to submit their September 30, 2004, Call
Report data to the agencies. The web site can be accessed at: www.FFIEC.gov/find.